Of the surprises that 2020 whipped at our heads, I’d place the fact that I didn’t sell my N1963 Birches Drive listing near the very top of the list. Perhaps second to the pandemic, perhaps in a tie for first. 1A and 1B, if we’re categorizing. I brought this property to market early in the summer and figured it would sell quickly. It didn’t. The reason? Our market’s tendency is to skip over things that it doesn’t understand or deems otherwise complicated. The market’s silliness was this new buyer’s gain.
This property has a conservation easement that governs and limits what can be built or developed on this property. Without explaining all of the detail, the restriction was mostly limited to the size of the home, which was permitted to be absolutely massive, and it rendered the western portion of the property off-limits. The parcel was almost 300′ wide on the lakefront, so have 1/3 of that labeled “DO NOT TOUCH” wasn’t a big deal at all. But the market thought it was, in large part because the market didn’t wish to understand. This is the same market that absorbed a 100′ lot just down the road on Lackey and paid $3.975M for it. Lake Geneva is a great market, but is it as sophisticated as it might have you believe? Not really.
I was pleased to represent the seller of this fine lakefront home. Expect to see great things rise from this lofted perch in the Birches. It’s a great lot, and a great buyer saw past the slight complication and now has a front row seat to this terrific lake and the remarkable lifestyle that it offers. Closed, $3,900,000.